Meanwhile, the commerce ministry, which is now under Maran, has set up a modest
target of 11 per cent growth rate in India's exports this year.

''Achieving a quantum jump in exports will be a great priority,''
said Maran.

He said Indian industry has to prepare
itself to face international competition. "Emphasis would be on export
related growth."

The approach to export strategy should change in
its profile. Instead of sticking to traditional items, emphasis
should be on export of software, electronics, expansion of production base and
new thinking.

He visualised that the next century should put India on
top of electronic exports world -- both software and hardware. ''I will
concentrate on computerisation and electronic data interchange
progress,'' he added.

He said the rupee is ''not hurting'' as of
now and he was not opposed to free trade zones.

'No joint ventures at the cost of domestic industry'

Maran said he is against joint ventures at the cost of domestic industry.

Obtaining No
Objection Certificate is a must for foreign partners. ''It is there in guidelines.
Otherwise the domestic industry will die,'' he emphasised.

Successful implementation of the first generation
reforms has paved way for next wave of reforms, with emphasis shifting
from regulation to development. Consolidation of industrial
legislation both at central and state level is imporant. This can be done by eliminating
multiplicity of approvals and other forms of administrative
barriers, further liberalisation of FDI regime by way of enlargement
of automatic route and inclusion of new sectors, he said.

The new wave of reforms would strengthen investment
marketing efforts and FDI. Current annual FDI inflow is $ 3.5 to 4 billion. During the
first nine months of this calendar year, it was around $ 3 billion
against the targeted $ 10 billion for the whole year.